From January to September 2014 4,000,000 tons of transit oil was transported via the Baku-Tbilisi-Ceyhan (BTC) oil pipeline against 2.1 million tons during the same period in 2013, reads the report of the Azerbaijan State Statistical Committee during 9 months, 2014.
“During this period 4 million tons of transit oil was transported from the Sangachal terminal via the BTC,” reads the report.
During 2013 3.3 million tons of transit oil was transported via BTC against 3.1 million tons in 2012.
Since July 2010 Turkmen offshore oil is transported via BTC and since November 2013 – Kazakhstan oil from the Tengiz field. In May 2014 Russian private LUKoil company also transported 30,000 tons of oil extracted on the Russian sector of the Caspian Sea via the BTC.—0—
Economics
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On September 20, 2024, Volts Energy Ltd., an engineering company based in Abu Dhabi, and Azerbaijan’s Turan Energy LLC announced the creation of a new joint entity, TuranVoltsEnergy. This venture will focus on EPC (Engineering, Procurement, and Construction) projects in renewable energy and energy storage systems within Azerbaijan.
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The number of passengers traveling by air from Azerbaijan has seen a significant increase in 2024, rising by 26.7% from January to September compared to the same period last year. According to the State Agency for Tourism, a total of 2,548,897 people used air transport services to travel to 40 countries during this period.
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Azerbaijan’s prolonged border closures, approaching five years, have taken a profound toll on the labor market, particularly in border regions, where cross-border trade and services were once critical economic drivers. Official data highlights the stark disparity between the growing labor force and the lack of new job creation in these areas, underscoring the social and economic challenges faced by residents.
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Azerbaijan’s food imports have surged to unprecedented levels, with a significant rise recorded in the first nine months of 2024, according to data from the State Customs Committee. Food imports for January-September reached USD 1.755 billion, marking an 11.4% increase over the same period last year. This represents a USD 179.7 million increase compared to 2023, setting a record for food imports in the country’s history. Over the past decade, food imports have more than doubled, rising by 2.4 times, with a notable 52.5% growth in the last five years alone.
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